According to a U.S. Small Business Administration economic analysis, 60 million individuals worked for American small firms in 2019. This number predates the pandemic and is correct to assume that small businesses have been severely challenged over the last 18 months keeping and growing their staff, but it’s also true that these employees have historically handled customer interactions and fueled company growth.
Small businesses have been able to give competitive customer experience while dealing with staff shortages by adopting quick digital transformation. It may seem odd, but automation, analytics, and artificial intelligence software all have the potential to improve human interaction and client relationships when systems are connected and data are de-siloed.
Customers are sharp these days, especially when our economy is in question, so the stakes for all firms, but particularly small ones, are high. Even a minor breakdown of client engagement or within the customer journey can send a customer to a competitor down the road. As small businesses rely more and more on technology to manage their client interactions, there are a few key areas where human input is required in order to maintain and enhance consumer experience and avoid software disintegration.
Personalization of Customer Information
Tailoring customer interactions and marketing efforts to different touchpoints, such as email, phone, chat, and so on, is a difficult but necessary task. According to a Gartner poll of 2,500 consumers in 2019, 55 percent said they would unsubscribe from a company’s communications and 38% said they would stop doing business with a firm if they perceived the company’s personalization attempts to be “creepy.”
Customers, on the other hand, desire individual journeys that are customized but not overly invasive. “Using tailored help messaging has a predicted impact of 20% in increasing the commercial benefit index (e.g., brand intent, purchase, repurchase and increased cart size) using Gartner’s research findings for 2016 as examples.”
Customers want personalized experiences that appear natural and human, in other words. SMBs use a variety of software to record customer preferences and purchasing history, monitor what’s been added or removed from the cart for merchants, and tailor recommendations and advice based on customer behavior in order to achieve this. When a firm utilizes numerous systems for data storage, accounting, point-of-sale, trigger-based messaging, content, customer support, marketing, and so on across multiple systems without integrating them into one holistic solution that allows customers access to all of their data at any time (or even worse), disruptions to the consumer experience occur and grow. This can result in missed revenue.
Small businesses don’t have the resources to integrate all of these distinct, competing customer personalization systems on their own. As a result, finding a single platform that allows for seamless data flow, scalability, and integration between departments is the most efficient way to deal with disparate technology.
Avoiding Siloes When Selecting Software for Improved Customer Personalization: What You Need to Know
Haste creates waste: Small enterprises should avoid services or goods with long deployment cycles that need advanced integration into existing systems, which take time away from core operations.
Before purchasing, try it out: Long-term lock-in licenses, especially pricey ones, might be harmful in the long run. Businesses should be allowed to exit a contract if the learning curve is too steep or a product turns out to be overkill.
Track the data flow and user experience: SMBs should interact with sales people and back-office staff throughout any trial period or introduction of new technology to ensure that the new system is being used as intended and delivers the ROI it promised. Vendors will not usually do this for their clients in most cases.
Customer support and engagement on all platforms
Small businesses require a technology solution that connects sales and customer support teams with customers across several channels, such as phone, email, live chat, and social media. Maintaining a holistic approach to consumer communication takes a significant amount of work. Technology has advanced to the point where many elements of client service and engagement can be handled by fewer people with better outcomes for small businesses. Customer engagement will drop as a result of automation, and businesses must adapt to this shift. However, as the strain and complexity of activities assigned to technology increases, data and procedure gaps will develop, causing customers to become alienated from firms.
How to Organize Customer Touchpoints and Teams for Better Support and Engagement
AI may help sales and support staff obtain up-to-date information on a client and send task reminders, alerts, and suggestions for the greatest time to contact leads or consumers based on their preferences and previous interactions. It can prioritize emails or support tickets across multiple touchpoints, as well as flag consumer sentiment for faster response times—all of which helps customers.
Deep system integration is required to connect touchpoints so that data acquired from email or chat might be utilized and actionable for companies across many departments and tools. Deep tech-stack integration, for example, allows for things like company-wide search, unified dashboards, consistent UIs, mobile device management, and other services that may increase productivity and efficiency in order to provide businesses a competitive advantage.
Analytics is essential in identifying consumer trends, which leads to customer happiness. If, for example, a specific client only buys swimwear around the same period of time every year, analytic software might identify and chart this data so that a business may offer customized discounts or suggestions before the next purchase, at the right time with the appropriate emphasis. BI tools can also provide small companies with insight into their operations, allowing them to see where sales slowdowns or process sticking points occur.
How to Make Better use of BI to Understand Customers and the Business:
Embedded and Conversational Business Intelligence
BI may be difficult for small enterprises, which might only have a few clients. Business intelligence is critical for businesses to please their consumers and comprehend their operations. The software would go unused if it was too complicated, or the resulting dashboards and reports were too complex to interpret without a data analyst. Small companies should look for a tool that can be or comes embedded into existing technologies, such as CRM. Employees may appreciate being able to call up data or reports via voice commands, making natural language processing BI tools a must-have.
Protection and Privacy
Every business, regardless of size, has an obligation to use technology that protects the privacy and security of its consumers. Small companies’ data privacy and security are often left to their IT providers, but the consequences of a breach fall squarely on them. As a result, small businesses should look into the privacy policies and security methods of their software suppliers in order to find solutions that can both give them hyper-personalization while also ensuring the protection of their clients’ personal information.
It is difficult for any business, particularly a small one, to tackle on its own when it comes to improving customer experience through app adoption and integration. The new Zoho One includes all of the services and applications listed above as well as additional features that are organized on a single platform, lowering the experimentation and integration burden on firms.
However, if a firm wishes to expand its software portfolio, it’s best to start by adopting one or a few applications at a time and expanding the system gradually, recording usage and outcomes together. This way, clients get a consistent experience that only a single system can provide.
The Real Deal on a Four-Day Workweek
For many people, it’s difficult to imagine a work week that doesn’t begin on Monday and end on Friday. For decades, millions of people across the world have built their week around Monday through Friday. However, as the pandemic continues to change Americans’ attitudes toward work, many are reconsidering how they may balance work and life.
After all of this research, I discovered that the concept of a five-day workweek was first proposed as early as the 1860s by many labor organizations in the United States seeking to pass legislation for an eight-hour working day. The Fair Labor Standards Act was amended in 1938 to limit the workweek to 40 hours per week, which resulted in the Monday through Friday, five-day work week that is well known today, according to Business Insider.
Despite the passage of this law, many individuals are still compelled to work more than 40 hours per week. According to a Gallup poll conducted in 2014, the typical salaried employee put in around 49 hours each week. Furthermore, according to Vox, workers are still clocking more than 40 hours per week even during the COVID-19 epidemic. Many people feel that achieving a work-life balance is difficult because they are either working from home or doing a hybrid arrangement that includes both in-office and at-home work.
A four-hour workweek might be in your future
In the previous decade, businesses and nations all over the world have started to reconsider the five-day workweek. More than 2,500 Icelandic employees were involved in a research in 2015 and 2019 that introduced them to a four-day workweek rather than the usual five-day week. The study’s findings suggested that those who took part in it reported feeling less stress and a better work-life balance, while their employers claimed that their productivity remained the same or improved. Many other countries around the world, such as New Zealand, Singapore, and Spain, subsequently looked into mandating a four-day workweek as a result of these studies. According to The Guardian, several American businesses, including Bolt Electric and Panasonic Electronics, are already adopting the four-day workweek. Microsoft, which offers a four-day workweek for its workers in Japan, states that the four-day workweek has boosted output by 40%.
Although many individuals tout the advantages of switching to a four-day week in place of a five-day one, the United States government has yet to push through any legislation establishing such a schedule in the country.But this may soon change, as more effort is put into protecting employee rights. The Great Resignation, which has seen millions of Americans leave their jobs in the past year, and the current movement for worker rights that has necessitated wage increases in many states have the potential to push forward further workplace reform in the near future, according to Vox.
The Best Valentine’s Day Gifts for Every Stage of Your Relationship, According to a Matchmaker
Rori Sassoon, a celebrity matchmaker and relationship expert, reveals the ideal Valentine’s Day presents for every stage of your love affair.
Valentine’s Day might be a significant event, especially if you’re new to each other. If you’re stumped as to what to get your lover this year, we’ve got you covered. Rori Sassoon, a celebrity matchmaker, offered us her top V-Day present ideas and you’ll want to check them out.
“When shopping for a Valentine’s Day gift, keep in mind that the gift is as big of a deal as your partner places on gift giving,” Rori shared. “Maybe they’re a fan of quality time over a luxury gift. Take that gesture of love and perhaps put it toward a shared experience. Most importantly, while you might strive to be the ultimate gift giver, stay within your means. If you have anxiety about being able to afford something over budget, rethink how you can find a similar item at a price point you’re comfortable with.”
Choosing the ideal present for your spouse on Valentine’s Day may be a difficult task, depending on where you are in your relationship. After all, if you’re just getting acquainted with someone, the presents you give won’t be at the same level as they’d be after a year.
Rori offered some advice on the finest types of presents to get your partner for each stage of your relationship, and we compiled a list of pointers to assist you get started.
It is good to note to learn your partners love language to help know what is the best gift to give to your partner.
Just Started Dating
When you’re starting to date someone around Valentine’s Day, you want to make a point of demonstrating that you care without being too cheesy (if that’s the case). Give them a card and a trifle. You’re indicating that you’d like to continue seeing them without unintentionally making them feel overwhelmed. Have a wonderful Valentine’s Day. However, keep in mind that there’s no need to be excessive—you’re just getting to know this individual.
We’re Not Really Strangers Card Game – 100% Realism Expansion Pack
This 50-card expansion pack for the wildly popular We’re Not Really Strangers Card Game was created for first dates to the “What are we?” phase of the relationship. It comes with all kinds of questions you’ve been dying to ask like “When’s the last time you ghosted someone and why?” and “What was the first thing you you noticed about me when we met in person?” It’s a great way to get to know your new love interest.
You Be My Valentine Pop-Up Card from YouBeBeloved is a lovely expression of love.
Lovepop has a variety of fun pop-up Valentine’s Day cards that are perfect for newly dating couples like this “Whale you be my Valentine?” card. All the options are really fun and colorful. You’ll definitely put a smile on their face.
We’ll See Where This Goes – Casually Dating
If you’re in a relationship or anything more casual, avoid wrapping gifts. Instead, create the ambiance for a raunchy night — lingerie, candles, romantic music, and maybe a sex toy or two. On this lovey-dovey day, capitalize on your physical attraction to each other. There’s no need to spend a lot of money on someone you don’t know if there’s going to be a long-term connection with. Have fun!
Tease Or Tumble Tower Game
The Tease Or Tumble Tower Game, which is simply a more grown-up version of the same thing, may be played by adults. Each brick has a hot question or activity such as “Remove an article of clothing” or “Massage your spouse for one minute.”
Box Of Dares
This box of challenges was created for couples at all stages and is especially enjoyable for individuals in a “where do we go from here” scenario. It includes 100 cards with dares that range from flirty to erotic, along with a box of 100 stickers.
Dating for at Least Six Months
When you’ve been dating someone for six months, it’s rather obvious that you care about each other. You want to give a gift that demonstrates the kind of giver you are. Gift-giving is one of love languages, and you should attempt to combine equal measures of sexy, fun, and thoughtful into your present. Regardless of the item, keep quality first! Consider a private spa trip or a concert at six months. Shared events will just bring you closer together.
Amorous Arcana: Valentine’s Tarot Lesson & Reading
What’s in store for your relationship in the future? Let the cards be your guide. This Valentine’s Day tarot lesson and reading will stay with you and your spouse forever. You’ll have the opportunity to do a tarot reading while Holly, the instructor and reader, assists you in interpreting the cards. If you already have a tarot deck, the procedure alone costs $25. If you don’t have one, a package including a deck and guidebook can be purchased for $50.
Tickets to a Concert or Event
If you want to give them something they’ll like, get them a ticket to a game, concert, or other event. It will be a shared experience that both of you can enjoy.
Committed for at Least One Year
If you’ve been with someone for a year, there’s always that lovely bright ring to it. You’re likely in love, and you see a hopeful future together. Purchase an outfit together for Valentine’s Day on a shopping trip. If you have a partner who is clueless about fashion, assist them in finding some trendy shoes or a designer belt.
Custom Couple’s Sweatshirts with Embroidered Roman Numeral Date and Initials
If you’re looking for a fun Valentine’s Day present for your significant other, consider getting them a pair of matching sweatshirts from Etsy. You may personalize it to include your initials, a date, and a heart. The New Bedtime Storybook by Leachco has a selection of colors ranging from black to white, light pink, navy, and gold. It’s a must-have for couples that have been together for at least one year.
Vertical and Horizontal Spotify Code Couples Necklace
What’s the song that holds a special meaning for you and your significant other? This personalized Spotify code necklace will always keep it close to your heart. The two necklaces are made of copper, and they’re ideal for keeping your favorite song on repeat. They’ll contain the Spotify code to your song so you can quickly scan and play whenever you want. You have the option of receiving them in rose, gold, or silver.
When you’re in a long-term relationship, you’ve celebrated many Valentine’s Day occasions. You know what your partner wants at this point. If your partner likes jewelry, add something to their collection. If your partner can’t say no to a watch, give it to them. Regardless of the price tag on the present, make sure to include a thoughtful note. Words of encouragement might be the most appealing turn-on. Your fire never has to go out!
Personalized Dinner Spinner Date Night Idea Board
Have you ever found yourself in a situation where it takes hours to figure out what to eat because one spouse is unable to make up his or her mind while the other is great with “whatever”? The Etsy-made personalized dinner spinner board can assist you with this. It’s completely alterable, and you can pick your own names and favorite restaurants. You’ll be wondering why you didn’t get it sooner once you have this!
Personalized Ticket To Love Box
If you enjoy the concept of love coupons, this outstanding personalized ticket box takes it to a new level. You may pick from 40 ticket themes ranging from “Free Back Rub” to “clothing-optional adventures,” and the box can be personalized with your partner’s name. It’s both amusing and distinctive.
The ideas are endless, but really the key is the more thoughtful the gift the better. As well as a gift that makes your partner feel like you really know them. Getting them a gift that is simple that you know is something related to what they like can be the meaningful.
Solana Slides 17% to Leading Losses as the Crypto Market Plunges
The cryptocurrency market fell on Monday, following a decline in the stock indices in the United States.
On Monday, the crypto market dropped significantly as U.S. stock index futures plunged by nearly 17%, according to CoinMarketCap. Bitcoin, the world’s largest cryptocurrency by market capitalization, fell to about $33,700 at the time of publication after rising more than $4,000 in Asian morning sessions.
The price of Solana’s SOL asset was down 17%, trading at $84.17, according to data from analytics platform CoinGecko. SOL was one of the year’s top performers, increasing from $3 in January to over $259 in November. The price of Bitcoin has dropped by more than 66% from its all-time high and almost 42% from last Monday’s.
Ethereum and the Cardano, Polkadot, and Binance Coin tokens all suffered losses of nearly 10% in the last 24 hours. DOGE, the currency of Dogecoin, fell 7% in the same period among the top ten cryptocurrencies by market capitalization.
Over $240 million in liquidations occurred since Asian morning hours, according to data from analytics tool Coinglass. Liquidations occur when exchanges are unable to meet margin demands because of a margin shortage. Following a few swings in the green, we witnessed several false breakouts and retests.
Bitcoin futures markets have liquidated over $63 million in assets since their inception, according to figures published by Cboe. Ether futures surpassed this, with more than $64 million in liquidation losses. BTC futures experienced significantly fewer losses, with SOL and XRP futures both losing around $5 million in liquidations.
The ratio of bitcoin traders who were long or betting on higher prices reached nearly 81 percent, according to several technical indicators, as bitcoin was seen as being oversold and a price rise was anticipated.
Meanwhile, others predicted that the market may fall further.
“Alarmingly, the sharp reversal on Friday was not followed by any meaningful bounce,” said Alex Kuptsikevich, senior financial analyst at FxPro, in an email to CoinDesk. “Some observers point out that this is a worrying signal, suggesting further market declines, as we have not seen a final capitulation. Without capitulation, the markets will remain with an overhang of sellers.”
“Events are developing in a bearish scenario, so far broadly repeating what we saw in 2018 in terms of overall sentiment,” Kuptsikevich said.